Hyundai Card
 | |
| Industry | Credit Card |
|---|---|
| Founded | 2001 |
| Headquarters | Seoul, South Korea |
Key people | Tae Young (Ted) Chung, CEO |
| Products |
Premium Card Point Card Cashback Card Business Card for small business Corporate Card |
| Revenue |
 KRW 1,916 bn (2015 3Q) |
|
KRW 210 bn (2015 3Q) | |
|
KRW 163 bn (2015 3Q) | |
| Website | https://www.hyundaicard.com |
Overview
Established in 2001, Hyundai Card is Korea’s leading credit card company with a strong leadership in the premium card sector. The company has been Korea’s fastest growing credit card issuer and has No. 3 market share. It is a joint venture between Hyundai Motor Company and GE Capital. Through ‘Hyundai Card Super Series’, which brings world famous sports stars and musicians, Hyundai Card redefined sports and cultural marketing in Korea. By nurturing innovative corporate culture, such as ‘career market’ which affords freedom for employees to choose the department they want to work for, the company became a model for numerous companies in the country. In the world’s most crowded credit card country, the company has most loyal customers with the highest monthly spending amount as well as industry’s lowest delinquency rate. Hyundai Card launched Hyundai Card M with point marketing and differentiated benefit. Within a year, it brought over 1 million members and became the biggest hit in the local credit card industry with the largest members of 8 million for a single credit card brand.
In 2005, the company introduced Korea’s first VVIP card, Hyundai Card the Black, followed by the Purple and the Red. In 2010, the company completed its brand portfolio based on three pillars of alphabet, number and color.
After introducing alphabet cards to reflect different lifestyle of customers, Hyundai Card announced ‘Hyundai Card CHAPTER 2’ to simplify complicated products. The company reestablished card structure focusing on two core benefit to customers, ‘reward point’ and ‘cash back’.
In 2015, Hyundai Card starts ‘Digital Hyundai Card’ campaign to create service ideal in the digital age. Based on the digital philosophy Hyundai Card envisions, it creates the service which enables customers to use their cards in a simpler and safer way.
History
2001.10 Diners Club Korea Co., Ltd., changed corporate name to Hyundai Card Co., Ltd.
2003.05 Launched Hyundai Card M
2005.02 Launched Hyundai Card the Black
2005.09 Hyundai Card Super Match 01 ‘Maria Sharapova vs. Venus Williams’
2005.10 Hyundai Card-GE Capital formed a joint venture
2006.02 Launched Hyundai Card the Purple, Ranked the 1st most desired company to work for award credit card companies by KMAC
2007.01 Hyundai Card Super Concert 01 ‘Il Divo’
2007.02 Won grand prize in corporate culture category, 5th Annual Korea Ethical Management Award
2007.04 1st issued USD 400 million-worth unsecured bond among credit card companies in Asia, Named the most desired company to work for award credit card companies by KMAC
2008.10 Acquired international standard ‘ISO 27001’ certification in information security management system
2009.01 Launched Hyundai Card MY BUSINESS
2009.12 Ranked 1st on NCSI in credit card category for the 5th consecutive year
2010.01 Received the Red Dot Gold Award in environmental design at the IDEA Design Awards, ‘Hyundai Card Art Shelter’
2010.08 Entered into partnership with MoMA
2010.10 Launched Hyundai Card MY COMPANY
2010.11 Launched Hyundai Card Platinum 3 Series
2011.06 Launched Hyundai Card Platinum 2 Series
2011.11 Launched Hyundai Card ZERO
2012.02 Designed premium drinking water ‘it water’
2012.03 Hyundai Card·Capital·Commercial published <PRIDE>, Launched ‘it card’
2012.06 Hyundai Card X YG collaboration
2013.02 Opened Hyundai Card DESIGN LIBRARY, Launched Hyundai Card X emart collaboration kitchen goods brand OYSTER
2013.05 Published <DESIGN without WORDS>, Hyundai Card X Kia Motors Collaboration ‘My Taxi’ exhibition
2013.07 Launched Hyundai Card CHAPTER 2
2013.08 Published <Reason: There Is a Definite Reason to Hyundai Card>
2013.12 Awarded the 2013 DFAA (Design for Asia Award), Hyundai Card DESIGN LIBRARY
2014.03 Hyundai Card ‘My Taxi’ won a gold prize in iF Design Awards, Renewed bus stop design and bus route in Jeju island
2014.04 Carried out ‘Bongpyeong Market Vitalization Project’
2014.05 Opened Hyundai Card TRAVEL LIBRARY
2014.11 Received the 22nd ‘Korean Ethical Management Award’ grand prize
2015.05 Opened Hyundai Card MUSIC LIBRARY & UNDERSTAGE
2015.05 Hyundai Card Super Concert 20 Paul McCartney
2015.08 Opened Hyundai Card Card Factory
Logo
Products
Premium Card – the Black / the Purple / the Red
Point Card – M·M2·M3 Edition2 / T3 Edition2 / M CHECK / M HYBRID
Cashback Card - X·X2 / ZERO / X CHECK / X HYBRID
Business Card for small business – MY BUSINESS
Corporate Card – MY COMPANY
Brand/Design
Hyundai Card Super Concert
-Since 2007, it became Korea’s most established performance series and brought world leading musicians, including ‘Beyonse’, ’Stevie Wonder’, ‘Maroon 5’, ‘Eminem’, ‘Lady Gaga’, ‘Metallica, ‘Ozzy Osbourne’, and ‘Paul McCatney’
Hyundai Card Culture Project
-From music, arts, dance, animation to architecture, it introduces innovative and experimental culture content. Hyundai Card brought 3D performance of ‘Kraftwerk’, the founder of electronic music, ‘Tim Burton’ exhibition, and supported ‘YAP:Young Architects Program’ in partnership with MoMA-PS1
Hyundai Card Card Factory
-Opened in Aug 2015 and located in the 9th floor of Hyundai Card Headquarters 3, the Factory shows the whole automated process of card production from issuing the plate, reviewing, and packing. It is the space which visualizes finance.
Hyundai Card Music Library & Understage
-Established in May 2015. Located on the main street of Itaewon, the thriving and most international neighborhood in burgeoning Seoul, the space aims to expand the realm of music and culture in the region.
-The library is where visitors can enjoy an analogue music culture while the "Understage" is a hip cultural space for musicians of all genres.
-The library features valuable collections of more than 10,000 vinyl albums including around 250 rare albums since the 1950s.
-At Understage, various events are held. The space aims to hold a variety of performances not limited only to music concerts but also plays and musicals.
Hyundai Card Travel Library
-Opened in May 2014, it is an inspirational space filled with 15,000 books and maps of 91 different cities in the very heart of Seoul’s trendiest district, Chungdam-dong.
-Designed by the internationally renowned interior designer Katayama Masamichi of Wonderwall with concept of “stock of curiosity”, the Library not only features a book collection based on 13 themes but also contains elements that provoke curiosity and provide different perspectives on travel.
Hyundai Card Design Library
-Established in Feb 2013. Tucked in the oldest neighborhood in Seoul, the Library with over design related 15,000 books selected by established international curators offers space of reflection and inspiration.
-The Library has the entire collection of Domus and Life Magazine.
-The exhibition space offers various design-related exhibitions to inspire people beyond books.
References
Start-up fate awaits South Korea’s middle-aged salarymen. Financial Times. Octorber 15, 2015
Hyundai Card Music Library by Choi Moongyu is a lending library for vinyl records. deZeen. September 5, 2015
Money makers: tour the new Hyundai Card Card Factory in Seoul. Wallpaper. August 3, 2015
Hyundai Card on the power of brand translation and the beauty of crisis. Mckinsey. July 2015
Tune in: Hyundai Card Music Library opens in Seoul. Wallpaper. June 15, 2015
MOBILITY EXAMINED AT MILAN DESIGN WEEK. Design Talks. April 18, 2015
Auto highlight from the 2015 Salone del Mobile. Wallpaper. April 15, 2015
Katayama Masamichi Designs Hyundai Card’s 196-Country “Travel Library”. Art Info. August 12, 2014
Credit cards in South Korea. The Economist. November 9, 2013
Peter Schreyer’s 6 Keys to Good Car Design. Art info. November 1, 2013
Hyundai Design Guru Invokes Spirit of Jimi Hendrix. WSJ Blog. October 31, 2013
Kia unveils My Taxi, a distinctive concept car that highlights the possibilities of a fully wired taxi. Surface Asia. October 1, 2013
Korea’s Festivals Now Really Rockin. WSJ Blog. July 24, 2013
Japanese Anime Exhibition Makes International Premiere in Seoul. Art Info. June 7, 2013
Q&A: Apollo 18, Goonam on Rocking in the UK and the Future of Korean Indie Music. Art Info. May 21, 2013
Growth Not Missile Threat Tops Park's South Korea Agenda. Bloomberg. May 30, 2013
High-Profile Marketing Propels Hyundai Card. WSJ Blog. April 18, 2013
Design library opens in Seoul. Dezeen. March 5, 2013
World's Largest Design Library Opens in Seoul. Art Info. March 5, 2013
Lorin Maazel Talks About the Chicago Symphony, Mozart, and Secrets to His Longevity. Art Info. February 6, 2013
Chicago Symphony Orchestra Makes Korea Premiere This Week. Art Info. February 4, 2013
Hyundai’s Chung Enlists Lady Gaga in Shaking Up Korean Chaebols. Bloomberg. January 30, 2013
Tim Burton Show Hits Seoul. WSJ blog. December 12, 2012
Tim Burton's 'nightmares' become hit museum exhibit. CNN Travel. December 11, 2012
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